Disney is facing a critical juncture as its shareholders prepare to make a crucial decision about the future of the entertainment giant. The company’s leadership is under scrutiny, with investors set to vote on whether to support the current direction or heed the calls for change from a prominent activist investor.

The stakes are high for Disney, as it grapples with challenges such as underwhelming box office performance, significant investments in streaming services, and uncertainties surrounding its traditional TV business. CEO Bob Iger is in a battle to convince shareholders that his leadership team is capable of revitalizing the company. The upcoming annual meeting will be a pivotal moment as shareholders weigh in on the proposed boardroom shake-up.

Nelson Peltz, a billionaire investor, has been at the forefront of the campaign for change at Disney. He has been vocal about the company’s struggles in terms of earnings, reputation, and stock performance. Questions have been raised about Iger’s strategy for steering Disney through these challenges and positioning it for future success.

The leadership succession at Disney has also been a point of contention. Iger had previously named Bob Chapek as his successor, only to return to the helm himself amid concerns about the company’s performance. As the showdown with Peltz looms, Iger has garnered support from influential figures such as George Lucas, Laurene Powell Jobs, Michael Eisner, and Jamie Dimon, all of whom have thrown their weight behind the current leadership.

Nelson Peltz, known for his activism in the corporate world, has a track record of challenging companies in various sectors. His proposal to secure seats on Disney’s board underscores the intensity of the battle for control and the future direction of the company.